The Ranch, Issue 24
Updates on our work with Aave, ApeCoin DAO, and Interest Protocol
Welcome to The Ranch, Llama’s Substack newsletter.
In this publication, we’ll share quick and easy to digest insights on:
Updates from Llama 🦙
Herd on the Street - interesting insights on DAOs
Opportunities - ways you can get involved with Llama
1. Updates from Llama 🦙
We shared an update with the Aave community outlining our work from the month of November.
A few highlights:
Proposed and executed 2 on-chain proposals: 100k BAL acquisition, Risk Parameter Updates for Aave v2 Ethereum Liquidity Pool.
Published 7 ARCs (details in the forum post linked above).
Worked with Chaos Labs to propose AIP-125, which allows users to deposit assets across the majority of reserves rather than freezing pools as outlined in AIP-121.
Co–authored an ARC with Gauntlet to repay excess debt (~$1.6m at the time of publication) in Aave’s CRV market. Roughly ~$280k of stkAAVE will be used from Gauntlet’s insolvency fund. Llama and Gauntlet have recommended that the rest of the excess debt be repaid using Aave’s Collector Contract.
We invite you to join us for our next Llama <> Aave Twitter Space where we’ll cover our work in the ecosystem and give community members a chance to ask questions.
The testnet phase of ApeCoin DAO’s bug bounty program for its staking contract has concluded! Over the course of several weeks, we received 27 submissions. 26 of those submissions were deemed ineligible for a reward. 1 medium-severity bug was uncovered; this bug did not put user funds at risk, but could have delayed a user’s withdrawal time.
Horizen Labs has worked on a fix for this bug, which is being re-audited so the mainnet program will be able to launch on launch day.
We published our delegate platform for Interest Protocol. Anyone wishing to delegate their IP voting power to Llama may use the address
We’ve published 3 proposals, recommending that Interest Protocol list AAVE, APE, and BAL as collateral assets on the platform.
2. Herd on the Street
The Uniswap Airdrop - Lessons for the Industry
An in-depth analysis of the Uniswap airdrop by @jphackworth42 that assesses the effectiveness of the airdrop by analyzing wallet and protocol activity. Notably, of all airdropped addresses, 93% have sold all their UNI and 98% have not participated in Uniswap governance.
The Future of MEV is SUAVE
Flashbots shared more details about their vision of decentralizing block building starting with SUAVE - the Single Unifying Auction for Value Expression. SUAVE unbundles the mempool and block builder roles, providing a decentralized alternative for block building on any blockchain .
If you’re a Solidity engineer looking to work on on-chain governance proposals, apply to join our community! You will get to work with a talented group of engineers and deploy smart contracts for top protocols like Aave, Balancer, Gitcoin, Uniswap, and Radicle, among others.
Stay Up to Date on Llama 🦙
Follow us on Twitter, check out our website, and read our writing on Mirror.